Agency
When does a Nevada agency relationship typically terminate?
AOnly upon the death of the agent
BUpon completion of the purpose of the agency, expiration, mutual agreement, or death/incapacity of a party✓ Correct
COnly when the listing agreement expires
DAfter 90 days regardless of the contract terms
Explanation
Agency in Nevada terminates when: the purpose is completed, the term expires, both parties mutually agree to terminate, one party dies or becomes incapacitated, the subject property is destroyed, or bankruptcy occurs.
Related Nevada Agency Questions
- What is the duty of 'disclosure' that a Nevada agent owes to their principal?
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- In Nevada, can a licensee representing a buyer also accept compensation from the seller without violating agency duties?
- What is a listing agreement in Nevada and what type of agency does it typically create?
- What is the term 'cooperating broker' in Nevada MLS practice?
- What is a unilateral listing versus a bilateral listing agreement in Nevada?
- What is a 'listing presentation' in Nevada real estate and what should it include?
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